Answer:
Interest will be $855 x 10 years= $8,550
Explanation:
Interest
6÷100=0.06
0.06x14,250=$855
$855x10=$8,550.
How much to have paid back
At the end of 10years $8,550 would have been paid as interest
Total sum will be $14,250+$8,550=$22,800 to be paid back.
Answer: Realizes that a sloping surface gives a greater possibility of falling
Elijah's behavior is an expected behavior exhibited by a child that undergoes both physical and mental development. His frequent falls from a sloping surface gives him an idea that a sloping surface will most likely caused him to fall again and from there he gets to devise a technique not to fall again.
Answer:
Barry Company must recognize a $5,000 gain resulting fro the disposal of the patent.
Explanation:
the patent's book value = acquisition cost - accumulated amortization = $120,000 - $100,000 = $20,000
gain from disposal of patent = selling price - book value = $25,000 - $20,000 = $5,000
Since patents are intangible assets, they are amortized, not depreciated. But accumulated amortization works in the same way as accumulated depreciation, they both reduce the asset's carrying value.
Answer:
The items that need to be reconciled between the company general ledger and the bank statement are:
- Deposits in transit (uncredited deposits)
- Outstanding checks (unpresented checks)
- Interest received
- Direct payments into bank
- Standing orders by the bank customer
- Bank charges
- No Sufficient Fund (NSF) Checks (dishonored checks)
- Posting and other errors
Explanation:
The bank reconciliation practice is one that ensures the agreement of the cash account balance, which is maintained by the bank customer and the bank statement balance maintained by the bank. The above listed items are the usual items for reconciliation between the two accounts.
